I read yet another tweet today (below) about what we “know” about Millennials and thought “WOW” that is a pretty general statement about a huge group of very diverse people in the workforce! No offence to the author of the tweet…
Tweet: 91% of #Millennials don’t want to hold a job for more than 3 years. Employee retention works! “for 9%”
Sweeping categories can help to categorize people at a high level – but they are also extremely limiting when you try to use them.
Data science can help move beyond this – helping identify factors beyond these sweeping categories in a way that is useful to businesses.
Though there is clearly some kind of trend at the generational level – generational data isn’t granular enough for hiring, promotion and other staffing decisions.
Data science reveals that Millennials are just as diverse as any other generation out there – they aren’t a new breed of person; we have our “contractors”, “corporate”, “freelance” – “part timers”, “full timers”, “workaholics” is it quitting time yet” etc, you get my meaning. Personalities, aptitude and passions vary from person to person, not generation to generation. There is significant diversity inside of generations. Talent Acquisition needs a way to predict at an individual level, the probability of each individual’s success in a particular position — instead of using standard generational criteria.
By selecting candidates that are more likely to succeed you reduce turnover, reduce cost & benefit debt, greatly reduce needless training for someone that will leave quickly and have fewer candidates wasting their time in a career they ultimately don’t want.
How can you predict the success of an employee pre-hire (will they stay, will they perform) or post hire (are they performing)? The only way to do this is to not clump all people in a generation into a single category, by implementing a data science approach and predictive analytics methods to ensure a good fit.
In the “gig economy” maybe not wanting to be in a certain employment position for years and years is not such a bad thing. It may not work for me but that’s not the point. The point is what delivers ROI from your candidates and employees, in your roles at a certain point in time.